Indianapolis-based Sanctuary Wealth launched its AltVantage Program (known as “SWAP”) in partnership with The Chartered Alternative Investment Analyst (CAIA) Association, a global professional body for the alternative investments industry.
The program will provide Sanctuary advisors training and education on using alts, by offering complimentary access to the Fundamentals of Alternative Investments (FAI) certificate program on CAIA’s UniFi platform. Franklin Templeton and FS Investments are sponsoring the initiative as strategic alliance partners of Sanctuary.
The FAI certificate program aims to educate advisors on how to effectively position alternative investments in a client’s portfolio and communicate their benefits, drawbacks and implementation considerations.
“SWAP represents a pivotal opportunity for our partner firms to deepen their understanding of the alternative investment landscape,” said Patrick McGowan, Head of Manager Research and Alternative Investments at Sanctuary. “With projections indicating a potential $20 trillion influx of capital into the alternative space in the coming years, it’s crucial that our partner firms are well equipped to navigate and capitalize on these opportunities for our clients.”
McGowan oversees a team responsible for the firm’s nearly $1 billion private markets platform, leading product origination, due diligence, selection and the private markets model portfolio implementation process.
Earlier this year, Sanctuary acquired Portland, Oregon-based tru Independence. Together, the combined enterprise supports approximately 120 independent wealth management firms that manage over $42 billion in client assets across 30 states.
“We’ve seen a multi-year trend of providing better access to alternative investments for the wealth management community,” said Aaron Filbeck, Managing Director and Head of UniFi by CAIA at the CAIA Association. “When implemented correctly, alternative investments can enhance client outcomes, but they also bring more complexities than traditional markets and therefore require further education.”
Founded in 2002, the CAIA Association has over 13,000 members worldwide, with CAIA charter holders in more than 100 countries. UniFi by CAIA is a specialized learning platform designed to provide education for professionals across the private wealth management industry.
In June, the CAIA Association released a report on the hurdles advisors face when seeking to allocate alts to client portfolios. Over time, advisors and other wealth management professionals have gained a better understanding of why they should offer clients alts and access has improved significantly, but they lack a strong handle on how to implement them practically, according to CAIA’s report.
According to Oksana Poznak, Director of Strategic Partnerships at Sanctuary, “The response to SWAP from our partner firms has been overwhelmingly positive. We’re trying to better equip our advisors for the growing demand coming from democratizing alternative investments. We thank our strategic alliance partners, Franklin Templeton and FS Investments, for their support in bringing this program to our advisors.”
Chris Latham, Managing Editor at Wealth Solutions Report, can be reached at clatham@wealthsolutionsreport.com.
